Everest Industries hits record high on strong Q3 results

The stock hit a new high of Rs 637, up 9% on BSE after the company reported a net profit of Rs 94 million in Q3FY18 against loss of Rs 141 million in year ago quarter

Everest Industries hit a new high of Rs 637, up 9% on BSE in intra-day trade, after the company reported a net profit of Rs 94 million for the quarter ending December 2017 (Q3FY18). The company engaged in cement & cement products business had posted a net loss of Rs 141 million in the same quarter last fiscal.

Operational revenue during the quarter under review grew 9% at Rs 2,906 million against Rs 2,664 million in the corresponding quarter of previous year.

For the first nine months (April to December) of current financial year FY18, the company posted profit of Rs 309 million against loss of Rs 100 million in the same period of FY17.

At 11:14 AM; the stock was trading 6% higher at Rs 617 on BSE, as compared to 0.31% decline in the S&P BSE Sensex. A combined 459,573 shares changed hands on the counter on BSE and NSE so far.

In past one year, the stock zoom 201% against 30% rise in the benchmark index.